Govt may raise over Rs 10,000 cr via Bharat Bond ETF by Dec


PTI, Oct 24, 2021, 1:32 PM IST

New Delhi:  The government is likely to launch the next tranche of the Bharat Bond ETF by December and expects to raise over Rs 10,000 crore to fund growth plans of central public sector enterprises, according to a senior finance ministry official.

The official added that the fund requirements of CPSEs are being worked out and the third tranche of the exchange-traded fund (ETF) will be launched by the end of the calendar year.

”We are finalising on the amount to be raised but it would be over Rs 10,000 crore,” the official said.

Bharat Bond ETF is an exchange-traded fund that invests in debt of public sector companies. The ETF currently invests only in ‘AAA’-rated bonds of public sector companies.

The funds raised through the debt ETF helps in smoothening borrowing plans of the participating CPSEs or public sector banks. It also helps them in meeting their capital expenditure needs.

The second tranche of the Bharat Bond ETF, which was launched in July 2020, was oversubscribed more than three times, collecting about Rs 11,000 crore. It had fetched about Rs 12,400 crore in its debut offer in December 2019.

The Bharat Bond ETF offered maturity options of five and 12 years in its second tranche, while in the first tranche, maturity options were for three and 10 years.

Edelweiss Asset Management is the fund manager of the scheme.

 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Karnataka HC denies anticipatory bail to Prajwal Revanna in sexual harassment case

Delhi court stays defamation case against CM Atishi

Awards don’t create value for independent films in India: Manoj Bajpayee

Public Alert: Cyber fraudsters impersonating traffic police to demand fines

UP: 25 people booked for attacking civic officials for encroachment removal

SC transfers cheating case against choreographer Remo D’Souza to Delhi court

Fishing vessel collides with naval platform off Goa coast; 2 fishermen missing

Related Articles More

Sony India bags ACC media rights for eight years

Musk says X now top news app on App Store in India

Air India to offer integrated aircraft maintenance engineering programme

Markets stage sharp recovery; Sensex reclaims 79k level, Nifty surges 557.35 points

Baku climate talks: The ‘X’ factor that could determine future of Global South

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Voting only on caste-basis will hinder social change: CM Siddaramaiah

SC notice to Gyanvapi mosque committee on plea for ASI survey of ‘shivling’ area

Sony India bags ACC media rights for eight years

Siblings found dead under mysterious circumstances in Bengaluru

Karnataka HC denies anticipatory bail to Prajwal Revanna in sexual harassment case

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.